fbpx The Power of Trust: How Companies Build It, Lose It, Regain It - Sandra J. Sucher | Harvard Kennedy School

Excerpt

July 2021, Book: "Trust is the most powerful force underlying the success of every business. Yet it can be shattered in an instant, with a devastating impact on a company’s market cap and reputation. How to build and sustain trust requires fresh insight into why customers, employees, community members and investors decide whether an organization can be trusted.  Based on two decades of research and illustrated through vivid storytelling, Sandra Sucher and Shalene Gupta examine the economic impact of trust, the science behind it and conclusively prove that trust is built from the inside-out. Trust emerges from a company being the "real deal": Creating products and services that work, having good intentions, treating people fairly, and taking responsibility for all the impacts an organization creates, whether intended or not.  When trust is in the room great things can happen. Sucher and Gupta’s innovative foundation for executing the elements of trust—competence, motives, means, impact—explains how trust can be woven into the day-to-day and the long term. Most importantly, even when lost, trust can be regained, as illustrated through their accounts of companies across the globe who pull themselves out of scandal and corruption by doing the right things right. "
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Non-HKS Author Website - Sandra Sucher